April 22, 2022
Retail brokerage Fidelity Investments has launched Fidelity Stack and Fidelity Metaverse as it looks to attact more young investors to its platforms.
The Fidelity Metaverse is a network of virtual environments where users can work, socialize and play. It can be accessed via different devices and it allows investors to invest in businesses involved in the metaverse.
Stack is a virtual eight-story building in the metaverse that offers financial education. The Fidelity Stack is built in Decentraland. The web platform imitates a metropolitan area with commerce districts, offices, and event spaces.
Those using the Fidelity Stack will be able to explore the building’s interior including a dance floor and rooftop sky garden. They will also be able to learn the basics of ETF investing while gathering “orbs” along the way.
While it is open to all, David Dintenfass, chief marketing officer and head of emerging customers at Fidelity explained that the project is largely dedicated to 17-35 year-olds.
The company noted that it is making a push to engage with customers aged 18 to 35 after 3.8 million new Fidelity brokerage accounts were open in 2021. Fidelity will be reaching out to these customers via its Reddit sub-thread and TikTok account.
The Sources for this piece include an article in Reuters.
